Key Points
Mumbai: Robust demand has helped residential property prices across India's top 13 cities witness 14.7% growth from a year ago and 2.2% rise sequentially during the quarter ended June 30, showed a Magicbricks PropIndex report...
While the demand for housing in these cities increased 7.8% year-on-year and 10.4% quarter-on-quarter, supply declined 8.3% on-year and 7.4% sequentially, indicating a tightening of inventory that led to the price rise during the period...
"Despite global macro-economic factors which have increased interest rates, the residential demand in India has shown robust growth, especially backed by the growing importance of home ownership and the sentiment of security it brings," said Sudhir Pai, CEO, Magicbricks...
Based on the behaviour and preferences of over 2 crore customers on Magicbricks' platform and over 15 lakh listings, PropIndex also observed that employment hubs of Gurugram (with 28.9% surge), Bengaluru (with 19.7% increase), Greater Noida (with 18.1% growth) and Delhi (17.7% rise) were at the forefront of this growing residential demand...
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